1B PENGU Gobbled Up in Just 5 Days – Will This Feeding Frenzy Smash Through $0.046?

PENGU whales are on a buying spree—1 billion tokens snapped up faster than a free sushi roll at a crypto conference. But can this surge actually catapult the price past the elusive $0.046 barrier?

Let’s break it down.

The Whale Effect: When big players pile in, retail traders scramble like seagulls at a beach picnic. Liquidity gets thin, volatility spikes—classic crypto theater.

Technical Outlook: The $0.046 level has been tougher to crack than a Bitcoin maximalist’s worldview. Previous attempts got rejected harder than a shady ICO at an SEC hearing.

Market Sentiment: Social volume is buzzing, but remember—hype burns brighter and dies faster than a shitcoin’s ‘revolutionary’ roadmap.

One cynical truth? In crypto, ‘organic growth’ often just means someone forgot to turn off the bot farm. Buckle up.

Key Takeaways

PENGU whale holdings hit a 3-month high. Still, it was second among the top 16 whale inflows across solana over the past 7 days but its price was struggling.

Pudgy Penguins [PENGU] memecoin ROSE just 1% on the 5th of August. Still, it clocked high trading volume and maintained a monthly gain of over 112%.

The memecoin appears to be riding the tailwinds of Phantom’s acquisition of Solsniper, which boosted visibility for Solana-based memecoins.

But among all traders, it’s the whales who are stepping in aggressively. Can they rescue PENGU’s valuation as the broader crypto market faced $10 billion in capital outflows over the past five days?

Source: Ali Martinez/X

Whale accumulation on PENGU peaks

Per The Solana Post on X (formerly Twitter), Whale Holding for PENGU hit a 3-month high of 14 billion tokens as of the 5th of August. Nearly 1 billion tokens were accumulated while PENGU’s price slipped from $0.04 to $0.03.

This aligns with the sharp upward spike shown on the chart for Whale Holding (Abstract + Solana), even as PENGU’s price briefly retraced.

Source: The Solana Post/X

On top of that, PENGU benefited from PSG1 Console’s buy-and-burn mechanics, which continue to reduce circulating supply.

When comparing Solana’s top 16 whale inflows, PENGU came in second with $11.87 million, just behind Bonk’s [BONK] $18 million.

However, BONK’s aggressive scarcity strategy gave it the edge. On the same day, it burned another 300 billion tokens worth $7.61 million—all funded through launchpad revenue.

Why is its recognition high?

PENGU’s official account on X showed that its attention was organic. The daily average views were at 908 million and still rising, with the community focused on a billion daily.

These views had tripled in the last 3 months, aligning with whale’s ATH in the same period.

Source: Pudgy Penguins/X

The recognition was driven by the memecoin’s cultural relevance and real-world reach in the U.S. marketplace. As a result, its total holders had clocked 567,991 as of the 5th of August.

Pudgy Penguins’ technical setup

While the fundamentals looked promising, the price action was confined in a falling wedge pattern.

PENGU had broken out of a falling wedge but was struggling to hold the retest NEAR a support zone at $0.034.

At press time, PENGU traded at $0.03548, up 3.18%, per TradingView. The chart also highlighted a resistance block near $0.046.

Source: TradingView

Net Volume stood at 1.34 billion, but the momentum indicator was nearing neutral territory after dipping to -0.0053 earlier in the week.

Whether PENGU can reclaim higher levels may depend on broader market sentiment, which has recently turned cautious.